Shares in Rocket Companies jumped over 70% today, and that optimism is also reflected in the options market:
RKT stock was one of the most active stocks in the options market yesterday with total volume of over 365,000 contracts. Call option volume outpaced puts by a ratio of 6-to-1. Overall volume was nearly three times higher than normal.
More here. This is particularly striking given that Rocket Companies, while a substantial company, is tiny compared to giants like Apple, Amazon, etc.
For more on the Wallstreetbets phenomenon, check out these posts:
- Big Profits And Lots of Short Sellers Could Make Rocket Companies a Winner
- Reddit’s Favorite Stock Is Losing a Fortune And May Be Headed for Bankruptcy
- Bots Are Pumping GameStop And Dogecoin
- Palantir Is Losing $100 Million a Month With No End in Sight
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Photo: “Dan Gilbert (left) and me” by Moondog Mascot is licensed under CC BY-NC-ND 2.0
